♪ >> "ALMANAC" IS A PRODUCTION OF TWIN CITIES PBS FOR THE STATIONS OF MINNESOTA PUBLIC TELEVISION ASSOCIATION.

>> ERIC: COMING UP ON "ALMANAC," STATE PARTY CHAIRS LIVE IN THE STUDIO, KEVIN KLING PREVIEWS AN UPCOMING SHOW, DR.

MARK DEPAOLIS IS OUT AT THE FAIR, AND MARY LAHAMMER WITH A LOOK AT WHAT'S ON YOUR BALLOT.

>> Mary: A BALLOT QUESTION WILL BE IN FRONT OF EVERY SINGLE MINNESOTA VOTER THIS NOVEMBER.

A CAMPAIGN TO EXPLAIN THE CONSTITUTIONAL AMENDMENT KICKED OFF THIS WEEK, WE'LL TALK TO THE BIPARTISAN MEMBERS.

HOW DID THIS DO IN THE HOUSE?

>> UNANIMOUS.

>> IN THE SENATE?

>> IN THE SENATE, IT'S A FREAKIN' LOVE FEST OVER THERE, IT WAS BEAUTIFUL.

>> Mary: THAT'S COMING UP ON "ALMANAC."

♪ ♪ ♪ >> "ALMANAC" IS MADE POSSIBLE BY MEMBERS OF THIS PUBLIC TELEVISION STATION.

SUPPORT IS ALSO PROVIDED BY... GREAT RIVER ENERGY: PROVIDING WHOLESALE POWER TO 1.7 MILLION PEOPLE THROUGH ITS MEMBER-OWNER COOPERATIVES AND CUSTOMERS.

DELTA DENTAL OF MINNESOTA FOUNDATION: IMPROVING ORAL HEALTH AND HELPING COMMUNITIES THRIVE.

DELTADENTALMN.ORG/TPT.

EDUCATION MINNESOTA: THE VOICE FOR PROFESSIONAL EDUCATORS AND STUDENTS THROUGHOUT THE STATE.

MORE AT EDUCATIONMINNESOTA.ORG.

AND VANESSA DAYTON, THROUGH THE HEALTHCARE FOR ALL MINNESOTANS FUND, SUPPORTING ACCESSIBLE HEALTHCARE STATEWIDE.

FUNDING FOR "VOICES RISING TWIN CITIES" PBS STORIES FOR AMERICA'S 250TH REPORTING ON "ALMANAC" IS MADE POSSIBLE, IN PART, BY MINNESOTA'S ARTS AND CULTURAL HERITAGE FUND.

>> ERIC: WELCOME TO "ALMANAC."

WE HAVE A JAM-PACKED SHOW FOR YOU, BUT FIRST SOME HEADLINES.

THE SHAKOPEE CITY COUNCIL MET THIS TUESDAY TO DEBATE FLOCK CAMERAS, A GROWING ISSUE FOR CITIES.

GLORIA STEINEM DIED THIS WEDNESDAY AT THE AGE OF 92.

I.C.E.

OFFICER CHRISTIAN CASTRO WAS TAKEN INTO FEDERAL CUSTODY FOR MAKING FALSE STATEMENTS REGARDING THE SHOOTING OF JULIO SOSA-CELIS IN MINNEAPOLIS.

>> CATHY: WE START TONIGHT WITH THE U.S.

JOBS REPORT FOR AUGUST.

LAST MONTH SAW AN INCREASE OF JOBS WITH AN EMPLOYMENT RATE HOLDING.

LOUIS JOHNSTON TEACHES ECONOMICS AT THE COLLEGE OF ST.

BENEDICT AND ST.

JOHN'S UNIVERSITY.

IN COLLEGEVILLE.

GOOD TO SEE YOU AGAIN.

>> THANK YOU.

>> Cathy: SO THOSE U.S.

JOB FIGURES WERE PRETTY STRONG.

WAS THAT A SURPRISE?

>> I HINK IT WAS TO THE PEOPLE WHO TRY TO PREDICT THOSE KINDS OF THINGS.

I AVOID TRYING TO PREDICT THAT KIND OF THING.

BUT, YES, BUT, YES.

BUT, YES.

>> >> Cathy: WHAT TO IT DO THE MINNESOTA JOB FIGURES LOOK LIKE IN COMPARISON?

>> THEY'VE BEEN QUITE GOOD, TOO.

IF YOU LOOK YEAR OVER YEAR, JOB GROWTH M MINNESOTA HAS BEEN SLIGHTLY FASTER AS A WHOLE.

>> Eric: WAGES KEEPING UP WITH INFLATION?

>> IT DEPENDS ON WHAT YOUR OCCUPATION IS.

FOR THE MOST PART YES, BUT THEY'RE NOT EXCEEDING IT.

IF INFLATION IS 3.5%, WE'RE SEEING WAGE INCREASES IN ABOUT THAT AREA.

>> Cathy: SO WHO'S MAKING THE MOST MONEY HERE?

>> WELL, IT DEPENDS ON YOUR SKILLS.

AND I EVEN HATE THAT TERM.

WHAT IS IN MORE DEMAND.

SO, CERTAIN OCCUPATIONS HAVE MORE DEMAND FOR THEM.

AND SO PEOPLE WHO WORK WITH, NOT WITH ARTIFICIAL INTELLIGENCE, COMPUTERS AND THINGS LIKE THAT, THEIR WAGES ARE GROWING FASTER, WHEREAS, PEOPLE WHO DON'T DO THAT.

THEY'RE SEEING THEIR WAGES NOT GROW AS FAST.

PART OF THAT IS BECAUSE OF ALL OF THE CHURNING AROUND WITH IMMIGRANT LABOR.

THERE ARE JOB OPENINGS IN AREAS THAT NOW THE EMPLOYERS HAVE TO RAISE THOSE WAGES IF THEY'RE GOING TO GET SOME PEOPLE TO WORK IN THEM.

>> Eric: WITH EMPLOYMENT, IS THE EMERGES OF AI KIND OF THE LIVE HAND GRENADE ROLLING AROUND ON THE FLOOR?

>> IT IS.

WHAT IS IT GOING TO DO?

IS IT GOING TO REPLACE HE JOBS AND MAKE THE -- OR MAKE THE PEOPLE WHO HAVE JOBS MORE PRODUCTIVE?

AND RIGHT NOW WE JUST DON'T KNOW.

SUPPORTS THE IDEA OF EEPING THE RATES STEADY OR RAISING THEM, BECAUSE WE DON'T HAVE TO WORRY ABOUT RISING UNEMPLOYMENT.

NEXT FRIDAY IS THE CONSUMER PRICE INDEX.

THAT'S WHEN THE INFLATION NUMBERS COME OUT.

IF THAT SHOWS THAT IT'S HIGHER THAN BEFORE, YOU CAN ALMOST GUARANTEE A RATE INCREASE.

ON THE OTHER HAND, IF INFLATION IS AT THE SAME LEVEL OR MAYBE CUTTING BACK, THEY'LL PROBABLY WAIT.

>> Eric: WHAT'S WITH THE BEEF ACTIVITY?

>> WELL, YOU'RE TRYING TO KEEP THE BEEF PRICES FROM GOING UP BY IMPORTING IT FROM ARGENTINA.

IT'S -- IT WON'T MAKE VERY MUCH DIFFERENCE.

>> Cathy: LET'S TALK ABOUT GAS PRICES BECAUSE EVERYONE'S TALKING ABOUT THAT.

NOW OBVIOUSLY THIS IS THE LABOR DAY HOLIDAY WEEKEND AND GAS PRICES ARE GOING TO BE A LITTLE HIGHER.

>> RIGHT.

>> Cathy: BUT I WAS AT THE FAIR.

FARMERS ARE COMPLAINING BITTERLY ABOUT HIGH DIESEL PRICES.

>> DIESEL, YES, IS ESPECIALLY HIGH.

PEOPLE ARE TALKING ABOUT THE FACT THAT THERE'S THIS BOTTLENECK IN REFINING CAPACITY AND THE ABILITY TO TAKE CRUDE OIL, WHICH EVEN IF THAT PRICE ISN'T GOING UP VERY MUCH, BEING ABLE TO TURN IT INTO THE PRODUCTS THAT PEOPLE NEED.

WE JUST DON'T HAVE THE CAPACITY.

PART OF THAT IS THE CLOSING OF THE STRAITS OF HORMUZ, THERE'S A LOT OF REFINING CAPACITY IN THERE THAT'S JUST BEEN CUT OFF.

>> Eric: RISING HEALTHCARE COSTS.

I WONDER WHAT THAT'S GOING TO DO TO THE ECONOMY.

>> IT'S NOT GOING TO BE GOOD.

EVERYBODY'S HEALTHCARE PREMIUMS ARE GOING UP.

THAT'S ANOTHER WAY TO THINK ABOUT THE QUESTION EARLIER ABOUT WAGES.

EVEN IF YOUR WAGE IS GOING UP, IF THE COST OF YOUR HEALTHCARE'S GOING UP EVEN FASTER, YOUR REAL INCOME IS PROBABLY SHRINKING.

>> Cathy: IS THAT DUE TO -- I WONDER ABOUT THE HEALTHCARE COSTS.

WHY IS THAT HAPPENING?

IS IT BECAUSE THERE ARE JUST SO MANY OF US ARE AGING, GETTING SICKER OR WHAT?

>> THAT'S PART OF IT.

THERE'S ALSO BEEN A BIG SHIFT IN FEDERAL FUNDING FOR HEALTHCARE AND, IN PARTICULAR, MEDICAID PAYMENTS AND THINGS LIKE THAT.

AND, SO, THEY'RE HAVING TO MAKE UP FOR THAT -- HOSPITAL SYSTEMS, HEALTHCARE SYSTEMS HAVE TO MAKE UP FOR SOME OF THOSE LOST REVENUES BY RAISING PREMIUMS.

>> Eric: COULD YOU EXPLAIN THE IMPORTANCE OF THE BOND MARKET IN A MINUTE?

>> YES.

>> Eric: GO AHEAD.

>> EVERY INTEREST RATE IN THE UNITED STATES IS BASED ON WHAT THOSE INTEREST RATES ARE.

SO, IF YOU WANT TO GET A HOME MORTGAGE OR IF YOU WANT TO BUY A CAR, WE TAKE THOSE INTEREST RATES AND MARK IT UP OFF OF THOSE.

SO SINCE BOND INTEREST RATES ARE GOING UP, ALL INTEREST RATES ARE GOING UP.

>> Eric: SO THIS IS REALLY KEY TO -- IT'S PART OF THE PICTURE FOR ECONOMIC RECOVERY?

>> HUGE PART OF THE PICTURE.

>> Cathy: BEFORE YOU GO, I HAVE TO ASK YOU THIS.

DATA CENTERS.

WE ARE SEEING THIS AS A BURGEONING CAMPAIGN ISSUE AS WE HEAD INTO THE MIDTERMS.

WHAT'S THE -- WHAT'S THE RESEARCH AS TO WHETHER THEY REALLY ARE ECONOMIC DRIVERS?

>> THEY REALLY AREN'T IN THE SENSE OF THEY GENERATE A LOT OF CONSTRUCTION JOBS, WHEN YOU FIRST BUILD THEM, UT THEN AS YOU GET THEM ONLINE, THEY NEED ALMOST NO LABOR AT ALL.

SO, IT'S A REAL TRADE-OFF BETWEEN, DO YOU WANT A SHORT-TERM BOOST TO EMPLOYMENT BY BUILDING THE DATA CENTERS VERSUS A LONG-TERM, OKAY, IT'S NOT REALLY GOING TO DO VERY MUCH FOR YOUR ECONOMY.

>> Eric: AND IT'S BECOME KIND OF A POLITICAL ISSUE.

>> Cathy: IT IS.

>> IT HAS.

>> Eric: UNITED LIBERALS AND CONSERVATIVES.

>> IT HAS.

>> Cathy: GOOD TO SEE YOU.

>> Eric: THANKS FOR COMING OVER.

>> THANK YOU.

>> Cathy: HAVE A GOOD WEEKEND.

STATE FAIR, OF COURSE, WRAPS UP THIS HOLIDAY WEEKEND.

MISSING THIS YEAR WAS JEFFREY UNTIEDT OF UNTIEDT FARMS, WHO SUPPLIED CORN AT THE FAIR AND IN MINNESOTA UNTIL HIS DEATH THIS PAST JULY.